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Latest revision as of 03:51, 27 July 2026


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Congress finally acted on New Year's Day, passing the "fiscal cliff" the law. This law extended the existing tax rate structure for single taxpayers with taxable income of lower USD 400,000, and married taxpayers with taxable income of less than USD 450,000. For together with higher incomes, the top tax rate was increased to 22.6% These limits are determined before a foreign earned income exemption.

Tax is really a universal certainty. Another tax-related certainty that's virtually universal is that single people pay more tax than their married brethren. Maried people with children pay much less tax. In fact, extra children you have, the more reduced your tax rate. Being fruitful and multiplying is not, however, widely believed to be a successful tax evasion structure. It's far better to gird your loins and become out your chequebook.

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